Market Profile Analysis dated 12th February 2021

Nifty Feb F:  15161 [ 15236 / 15071 ]

NF made an Open Auction start as it stayed above previous Value but could not sustain above PDH (Previous Day High) in the A period after which it left small tails at both ends at the completion of the IB (Initial Balance). The auction then got into the selling tail in the C period and went on to make a RE (Range Extension) to the upside in the ‘D’ period where it tagged the VPOC of 15230 and made marginal new highs of 15236 in the ‘E’ period but failed to get fresh demand as volumes remained lacklustre and the range remained narrow till the ‘H’ period with the dPOC also shifting higher to 15200 zone. NF then initiatied a move away from 15200 in the ‘I’ period to the downside breaking below day’s VWAP and which further triggered a big liquidation break in the ‘J’ period as the auction made a big RE to the downside first swiping through previous day’s Value as it completed the 2 IB objective of 15095 post which it even broke below PDL (Previous Day Low) briefly as it hit 15071 but was swiftly rejected finally stopping the fall as it got back into previous Value completing the 80% Rule on the upside this time as it hit 15175 confirming a buying tail at lows from 15101 to 15071 and closed the day at 15161 leaving a Neutral Day with overlapping to higher Value.

Click here to view the latest profile in NF on MPLite

  • The NF Open was a Open Auction (OA)
  • The Day type was a Neutral Day (NeuD)
  • Largest volume was traded at 15201 F
  • Vwap of the session was at 15168 with volumes of 89.2 L and range of 165 points as it made a High-Low of 15236-15071
  • NF confirmed a FA at 14731 on 04/02 and completed the 2 ATR objective of 15265 on 09/02. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Feb) is 13809
  • The VWAP & POC of Jan Series is 14288 & 14569 respectively.
  • The VWAP & POC of Dec Series is 13528 & 13528 respectively.
  • The VWAP & POC of Nov Series is 12554 & 12862 respectively.

You can check the monthly charts & other swing levels for Nifty & NF here & for the weekly charts & analysis, please click here.

Daily Zones:

  • Value zones (volume profile) are at 15139-15201-15223

HVNs – 13886 / 14015 / 14172 / 14664 / 14820 / 14879 / 15120*


BankNifty Feb F:  36134 [ 36348 / 35720 ]

BNF made a fifth consecutive OAIR start as it continued to build on the 2-day composite in the IB where it left a very narrow range of just 208 points and gave the first sign of moving away from this balance in the C period by leaving an extension handle at 35928 after which it more than doubled the day’s range forming higher highs in the D & E periods too where it tagged 36268 and the completion of 2 IB attracted some profit booking by the longs as the auction made a retracement to 36073 in the ‘F’ period where it left a PBL just above VWAP & the PDH indicating that the upside probe was still not over. BNF then made a fresh RE on the upside in the ‘H’ period as it went on to tag the VPOC of 36330 while forming new highs of 36348 but displayed sign of exhaustion as it made similar highs of 36345 in the I period and this led to a retracement of the entire move higher since IB as BNF made a low of 35955 in the ‘J’ period taking support just above that extension handle of 35928 and got back to the dPOC of 36150 into the close leaving a DD (Double Distribution) profile for the day with completely higher Value.

Click here to view the latest profile in BNF on MPLite

  • The BNF Open was a Open Auction In Range (OAIR)
  • The Day type was a Double Distribution Day – Up (DD)
  • Largest volume was traded at 36150 F
  • Vwap of the session was at 36072 with volumes of 51.6 L and range of 628 points as it made a High-Low of 36348-35720
  • BNF confirmed a FA at 36503 on 08/02 and tagged the 1 ATR objective of 35533 on 10/02. The 2 ATR target comes to 34562
  • BNF confirmed a FA at 34343 on 04/02 and completed the 2 ATR objective of 36091 on 05/02. This FA has not been tagged and is now positional support.
  • The settlement day Roll Over point (Feb) is 30445
  • The VWAP & POC of Jan Series is 31597 & 32062 respectively.
  • The VWAP & POC of Dec Series is 30270 & 30766 respectively.
  • The VWAP & POC of Nov Series is 28104 & 29565 respectively.

For the Monthly charts & other swing levels for BankNifty & BNF click here & for the weekly charts & analysis, please click here.

Daily Zones:

  • Value zones (volume profile) are at 35996-36150-36280

HVNs – 30041 / 30534 / 30996 / 34407 / 35751* / 35920 / 36339

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